Be prepared to navigate through potential tenant issues and lease terms. 

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

After buying this house, I partnered with others to invest in a duplex in the Wichita area.At the moment, I’m living in Tennessee, and I’m weighing two options: either selling my house and using the proceeds to buy a duplex in Overland Park or Wichita with my partners, or keeping the house for another 3 years, transferring it to our LLC, and renting out the entire property to maximize its rental potential ( $1400-$1600 ) I currently owe $200k on the property with a 6.5% interest rate, and my monthly payment is between ($1,700-$1800).

The initial thought is you are probably charging too much if no one is interested, or your photos or description are bad.Four beds and only one bath probably reduces demand as well, that’s potentially a lot of people sharing one toilet.And it is winter - I’m in Buffalo, I hate listing rentals this time of year.

If you discover one that sounds potentially relevant, and you have not explored it - see if you can still get hold of your accountant to ask.

They provide diversification and liquidity.1031 Exchange into Syndications or Passive Investments: This keeps you in real estate but shifts the burden of management to others while potentially preserving tax advantages.At the end of the day, peace of mind is priceless.

I do look at the relationship to the potential renter. 

I have a potential private lender, but I need to determine if this is a viable investment opportunity and explore the best financing options 

For example, I am a little concerned about some aspects of the business cycle recovery and a potential for a double-dip so I lean toward the safest part of capital stack which is debt (or low-debt equity).

Finding it through your Facebook sphere shows the power of networking, and keeping the rehab cosmetic was a smart way to minimize risk and maximize profit.One thought: Have you factored in holding costs, loan interest, and potential market fluctuations during the 45 days?